Wrapped Bitcoin receives a strong long-term technical score of 80 from InvestorsObserverresearch based on historical trading patterns. The proprietary scoring system assesses the price movement of the last few months to a year, analyzes the token’s support and resistance levels, and where it is relative to long-term averages to determine if it is a strong buy and hold investment opportunity. WBTC currently holds a long-term technical analysis score above 80% of the cryptos in circulation. This ranking metric is particularly useful for buy-and-hold type investors looking for consistent strong growth when allocating their assets. tokens with a high technical score in the long and short term can help point to assets that have bottomed out, giving investors a chance to “buy the dip”.
Business analysis
The price of Wrapped Bitcoin is -$5,022.8100000 (-11.28%) below its 100-day moving average price of $44,526.690000000, with its price currently standing at $39,503.880000000. Additionally, WBTC is $10,404.7200000 (135.72%) higher than its 52-week low of $29,099.160000000 while -$122,684.37000000 (24.35%) is lower. at its 52-week high of $162,188.250000000. The current trading price against its long-term average as well as its 52-week highs and lows, gives WBTC a solid long-term technical score of 80. Wrapped Bitcoin’s long-term trade movement suggests that investors are neutral on the token right now. Wrapped Bitcoin has a market capitalization of $10,530,827,263.94 and a relatively high average daily volume with $1,950,376,705.29 in currency traded in a typical 24-hour period. In the past 24 hours, WBTC volume is below its seven-day average with 146,151,923.89 traded. The Wrapped Tokens subclass of this token: A wrapped token is a string representation of another asset. It could be a cryptocurrency represented on a different blockchain, or another type of asset, such as a stock or a commodity. This allows crypto traders to access non-crypto assets and trade on a change to gain exposure to assets from a different chain.
Summary
WBTC’s historical trading over the past year gives it a strong long-term technical score of 80, as its price movement over this period has given investors reason to be neutral on the token over the long term. . Click here for the full Wrapped Bitcoin (WBTC) report.
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